Tribeca Film Festival co-founders' NYC apartment price cut to $12.5 million

The luxury apartment at The Dakota in New York City, assembled by Tribeca Film Festival co-founders Jane Rosenthal and Craig Hatkoff, has seen a significant price reduction. The 6,000-square-foot residence at 1 W. 72nd St. is now listed at $12.5 million, down from a previous asking price of $13.9 million in May.

The property represents a massive decrease from its original 2016 market price of $39 million. Rosenthal and Hatkoff spent over three decades and approximately 20 separate transactions to assemble the unit. The sale includes a separate 400-square-foot unit located across the hall.

Brokers note that selling units within the landmarked Dakota building can be difficult due to the bureaucratic challenges associated with renovations.